Facebook set to launch its own cryptocurrency

Social media giants, Facebook is reportedly planning to launch its own cryptocurrency, according to a report from Cheddar’s Alex Heath.

Currently, there isn’t too much detail, but the company is said to be specifically focused on using cryptocurrency specifically for facilitating payments on the platform, something that could be a pretty dramatic shift given Facebook’s huge user base and existing marketplace section of the site for buying and selling goods. The company is also said to be investigating other ways to leverage the tokenized digital currency and its underlying blockchain technology across its platform, too.